Are the Epcon Communities financial statements in Exhibit A audited?
Epcon_Communities Franchise · 2025 FDDAnswer from 2025 FDD Document
Independent Auditor's Report
Opinion
We have audited the accompanying consolidated financial statements of Epcon Communities Franchising, LLC and Subsidiary (the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income and changes in member's equity and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Consolidated Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 85)
What This Means (2025 FDD)
According to Epcon Communities' 2025 Franchise Disclosure Document, the financial statements in Exhibit A are indeed audited. The document includes an Independent Auditor's Report that expresses an opinion on the consolidated financial statements of Epcon Communities Franchising, LLC and Subsidiary.
The auditor's opinion confirms that the financial statements present fairly, in all material respects, the financial position of the company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended. This opinion is based on audits conducted in accordance with auditing standards generally accepted in the United States of America (GAAS).
The report also details the responsibilities of both the management and the auditor in relation to the financial statements. Management is responsible for the preparation and fair presentation of the consolidated financial statements, while the auditor is responsible for expressing an opinion on those statements based on their audit. This indicates that a prospective franchisee can have confidence that Epcon Communities' financial statements have been examined by an independent and qualified auditor.